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You are given $40,000 today which you invest at an interest rate of 5% per year for 12 years, compounded annually The Hunt Company has obtained the following data concerning its Cutting Department: Contribution to indirect expenses........................... $ 60,000 Income "controllable" by the manager........................ 40,000 Assets directly used by and identified with Cutting Depart.. 300,000 Assets under the "control" of the segment manager........... 250,000 What is the ROI percentage for the department manager? A. 20% B. 24% C. 16% D. 13.33% Fixed production costs for the Velvet Corporation are budgeted at $80,000, assuming 40,000 units of production. Actual sales for the period were 35,000 units, while actual production was 40,000 units. Actual fixed costs were $70,000. What is the budget variance? A. $10,000 favorable B. $10,000 unfavorable C. $0 D. All of the other answers are incorrect. The Chattanooga Company budgets its overhead at $120,000 plus $4 per unit based on standard activity of 20,000 units. If the company actually produced 18,000 units, the overhead volume variance would be: A. $4,000 (favorable). B. $4,000 (unfavorable). C. $12,000 (favorable). D. $12,000 (unfavorable). Information on the Glenn Company's direct labor costs for the month of July is as follows: Standard direct labor-hours...................... 66,000 Actual direct labor-hours........................ 70,000 Standard direct labor rate per hour.............. $ 6.60 Total payroll.................................... $490,000 What was Glenn's labor efficiency variance? A. $28,000 (favorable) B. $28,000 (unfavorable) C. $26,400 (favorable) D. $26,400 (unfavorable) The Chang Company has predicted sales for the first three quarters of 2017. The predictions are: first quarter, $250,000; second quarter, $200,000; third quarter, $300,000. 80% of sales are collected in the quarter of sale, and 20% of sales are collected in the following quarter. The company's expected cash receipts for the third quarter of 2017 are: A. $340,000 B. $280,000 C. $210,000 D. $370,000 Sales for next quarter are budgeted at 100,000 units. Finished goods inventory at the end of this quarter is 20,000 units. Planned production for next quarter is 140,000 units. What will be the budgeted finished goods inventory at the end of the next quarter? A. 20,000 units B. 40,000 units C. 60,000 units D. 50,000 units . The Turbo Company uses a standard cost accounting system. The standard labor cost for one unit is 2.5 hours at $9.00 per hour. During the month, the company produced 184 units, using 500 hours at a total cost of $4,450. The labor rate variance is: A. $46 (unfavorable). B. $46 (favorable). C. $0 D. $50 (favorable). Scotch Company manufactures vinyl car roofs. The standard materials cost of the vinyl used per Model S top is $54 based on 12 square feet of vinyl at a cost of $4.50 per square foot. A production run of 2,000 roofs in August 2006 resulted in usage of 25,200 square feet of vinyl at a cost of $4 per square foot, a total cost of $100,800. The materials usage variance resulting from the above production run was: A. $4,800 (unfavorable). B. $5,400 (unfavorable). C. $7,200 (favorable). D. $5,400 (favorable). The Maso Company has two departments in which it produces ball bearings. In the molding department, the standard labor cost for each batch is two hours at $5 per hour. In producing 100 batches, the actual labor cost amounted to $990 for 180 hours. The labor rate and efficiency variances, respectively, would be: A. $100 (favorable); $90 (unfavorable). B. $90 (unfavorable); $100 (favorable). C. $180 (unfavorable); $190 (favorable). D. $190 (unfavorable); $180 (favorable). In a given period, Topper Company purchased 10,000 units of A. B. C. D. materials at $392 each. The standard cost of this material is $400 per unit. A total of 16,200 units was issued to complete a job for which the standard materials allowed amount to 16,000 units. Which of the following statements is true? The materials usage variance is $39,200 unfavorable. The total materials variance for materials actually used is $40,000 favorable. The materials price variance is $80,000 favorable. The standard cost for materials used is $6,350,400. Please see attached questions . The Charles Company is planning to invest $450,000 in a factory machine. The machine is expected to last four years and have a salvage value of $50,000. Yearly net cash inflows (before taxes) from the machine are estimated at $140,000. Using straight-line depreciation and a 50% tax rate, the unadjusted rate of return is: A. 8%. B. 12%. C. 20%. D. 35%. Sims Company had budgeted 60,000 units of output using 30,000 units of raw materials at a total material cost of $210,000. The company purchased 30,000 units of raw materials at a cost of $7.40 per unit. Actual output was 60,000 units of product requiring 25,000 units of raw materials. The materials price variance and usage variance were: Price A. B. C. D. Usage $10,000 (favorable) $12,000 (unfavorable) $12,000 (unfavorable) $12,000 (favorable) $35,000 (favorable) $36,000 (favorable) $35,000 (favorable) $37,000 (unfavorable)